XRP Surpasses Bitcoin in Terms of Trading Volume Following Ripple v. SEC Win

XRP – the native token of Ripple – has been one of crypto’s best performers ever since the enterprise blockchain provider notched a landmark win in its legal battle against the US Securities and Exchange Commission (SEC).

According to Kaiko, XRP trades have recently comprised 21% of the total crypto trading volume, leaving BTC in second position with 20%.

• Ripple’s courtvictory acted as a catalyst for the native coin of the organization, which has soared by over 55% in the past four days (per CoinGecko’s data).
• At one point, XRP neared $1 and became the fourth-largest crypto by market cap, which currently stands at more than $38 billionIn comparison, this figure was approximately $25 billion prior to the judge’s decision.
• Recent analysis displayed by Kaiko showed that trades involving XRP represented 21% of the daily market share of the entire cryptocurrency trading volume. BTC ranked second with 20%, while ETH accounted for 8%.

XRP Trading Volume, Source: Kaiko

• One reason behind this significant success could be the massive support coming from multiple cryptocurrency exchanges. AsCryptoPotato reported, Coinbase, Kraken, Crypto.com, and Bitstamp re-launched trading services with XRP hours after Ripple’s win.
• Despite the positive trends, the digital asset data provideroutlinedthat XRP volume is “only” at a ten-month high. Daily trading volume involving the coin surpassed $15 billion on a few occasions in 2021 when the whole market was booming.